Alliance Residential Company Acquires Former Westrock Campus in Norcross
Friday, February 22nd, 2019
Alliance Residential, one of the largest multifamily developers in the nation, has closed on the purchase of the former WestRock campus in Norcross, Georgia and is moving forward with plans to redevelop the suburban office park into a luxury apartment community, Broadstone Norcross. Construction will begin in early 2019 and the project will open for residents in 2020.
Located at 504 Thrasher Street in Norcross, the 12-acre site currently houses eight vacant office buildings, of which two will be saved and converted into multifamily use. These two existing structures will be revitalized into 90 loft-style rental units and co-working space. Designed by Brock Hudgins Associates, the project will also include two new four-story buildings housing 200 additional rental units ranging in size from 560 to 1,400 square feet. In addition, the project includes a half-acre public neighborhood park. Unique amenities include a Makers Room, offering creative space in which residents may paint, draw and craft.
Broadstone Norcross is just two blocks south of downtown Norcross, a charming historic district filled with popular restaurants, shops, galleries and more. The forthcoming project will deliver the highest quality multifamily units to date in this submarket, benefitting from the nearby downtown experience and providing residents with a village center and a walkable environment. Alliance Residential will operate regular programing at the public park, with potential offerings to include interactive artwork, community events, and other family-friendly activities.
“We look forward to creating a flourishing residential hub by repurposing an outdated, vacant corporate campus. Although downtown Norcross is thriving with urban-style amenities, there is an extreme shortage of high-quality rental housing. As suburban downtowns evolve and grow, we see a tremendous opportunity to meet increased demand for walkable, upscale multifamily communities that seamlessly blend into the neighborhood,” said Alliance Residential’s Southeast Managing Director, Todd Oglesby. “Adapting an underutilized development supports our commitment to sustainability and results in an authentic, one-of-a-kind project.”